Moneysupermarket gets ads boost
Tuesday 28 February 2012
Price comparison website Moneysupermarket has reaped the benefit of a new advertising campaign with a 15% jump in earnings so far this year.
The business ditched comedian Omid Djalili last year and is now running its 'You're so Moneysupermarket' campaign, which features a man riding on the waves of euphoria having saved money thanks to the website.
In a sector known for its memorable campaigns, including Go Compare's opera singer and Compare the Market's talking meerkats, moneysupermarket has increased its spending on television and newspaper advertising by 20% so far in 2012.
This has resulted in an estimated 15% rise in revenues and earnings in the year to date, following on from a 21% jump in underlying profits to £49.5 million in 2011.
The group upped its overall marketing investment by 24% to £77.5 million in 2011, and watched revenues increase 22% to £181 million in 2011.
The website ramped up its non-internet ad spend by 43% to £27 million last year, which included the launch of the 'You're so Moneysupermarket' advertising campaign as well as sponsorship of ITV show Britain's Got Talent, which the group believes has helped consolidate it as a mainstream brand.
Moneysupermarket said its money services arm saw total revenues increase by 19% to £52.6 million, while in insurance total revenues increased by 21% to £102.7 million. The travel sector's total revenues were down 4% at £13.3 million due to difficult economic conditions.
All three parts of the website received more visitors in 2011 than they did in 2010, with the money and insurance arms seeing double-digit percentage gains.
Peter Plumb, Moneysupermarket.com chief executive, said the latest set of figures demonstrate a "powerful performance" from the group.
He said: "We saved customers over £900 million in 2011, up from £690 million in 2010.
"More people are buying a growing number of products via our site.
"We have continued to invest in the Moneysupermarket brand, in the range of products and tools on the site, and in its ease of use."
Mr Plumb says that 2012 is shaping up to be a "really tough year" for customers, raising the prospect that more people will visit the site in a bid to save money.
He said the business also pioneered the availability of price comparison services on mobile and tablet devices.
Mr Plumb added: "Existing customers can now renew their cover with just three taps of an iPhone screen.
"We'll continue to invest in this technology - industry observers predict that over 50% of internet searches will be performed on mobile devices by 2015."
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